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Apple sales led by the expensive iPhone X pushed the quarterly results well beyond Wall Street's goals Tuesday, with App Store subscriptions, Apple Music, and iCloud services strengthening the business. Expectations for the fall, when he typically launches new iPhone models, reassuring a nervous tech sector that saw sales last week in Facebook, Twitter and Netflix over concerns about their future growth.
The Cupertino, California-based company responded to a growing global smartphone market by launching increasingly expensive phones and diversifying into services, even though competitor Samsung Galaxy has missed the targets of its flagship Galaxy S9 and Huawei Technologies Co in China [2]. also regained growth in China, where sales grew 19%. Sales fell in 2016 after Chinese consumers avoided the iPhone 7, whose overall appearance differed little from its predecessor.
And a stock repurchase of $ 20 billion (about 1.37 million rupees) during the quarter brought Apple's record buyback to $ 43 billion (about 2.94 million rupees) and surpassed the stock market value of nearly three quarters of the S & P 500 companies.
"The lesson that Apple's management has taken from the iPhone X, is when you sell a smartphone for more than $ 1,000 (about Rs. 68,500), you can sell fewer units and still reap the financial benefits, "said analyst Thomas Forte DA Davidson & Co.
Shares rose 3.7 percent in extended trading to $ 197.34 (about Rs 13,500), a record-breaking, putting its market capitalization at $ 954 billion (about Rs 65.4 crores lakh). $ 206.49 for Apple to become the first publicly traded US company to break the $ 1 trillion threshold r the basis of the number of shares of Apple at the end of the quarter. Apple has been able to reduce its number of actions since then.
Apple sold 41.3 million iPhones in the third fiscal quarter, half a million less than expected, but the average selling price of the iPhone exceeded expectations of 30 euros. Luca Maestri, Apple's chief financial officer, told Reuters that his customers were buying more expensive models and that the $ 999 iPhone X was the best seller of the quarter.
Apple posted a turnover of 53.3 billion and a profit of 2.34 and Thomson Reuters I / B / E / S.
also expects revenues of the order of $ 60 to $ 62 billion for its fourth fiscal quarter, which will include anticipated sales of Thomson Reuters I / B / E / S data, announced phone models would exceed analysts by $ 59.6 billion.
James Cordwell, an analyst at Atlantic Equities, said the high selling prices could cause "
Apple's services include streaming music and video, where Apple has to face the competition of its rivals, including Spotify Technology SA and Ne. tflix
But many Apple services do not face strong rivals. Maestri told Reuters that Apple Care sales, the company's guarantee offering, were up 27 percent from last year.
Hundreds of billions of other tariffs whose product categories have not yet been enumerated.
Apple is trying to find out if it will be hit by rates on purchases that the company must make, possibly related to data centers, said Tim Cook calling with investors.
He credited "wearables", a category that includes wireless headphones and the Apple Watch, with increasing contributions, and the watch could be hit by the tariffs. Maestri told Reuters that Apple could not keep up with demand for AirPods headphones.
Service revenues were $ 9.5 billion, exceeding analysts' expectations by $ 9.1 billion, according to Thomson Reuters I / B / E / S. million-dollar dispute resolution such as Apple's longstanding dispute with Samsung Electronics Co.
Apple executives have pointed out the recurring nature of much of this figure d & # 39; # 39; business. includes Apple services such as music and third-party subscriptions such as Netflix, where Apple takes a share of revenue when it handles billing.
Cook said that Apple Music has more than 50 million users when free trials are accounted for. hints at the company's video content efforts. Apple hired leading Sony Corp. television executives and began making offers for content like a drama series with Hollywood stars Reese Witherspoon and Jennifer Aniston
Apple has not yet said how it will distribute these shows, but Cook said that Apple is "thrilled with our pipeline that has new services."
© Thomson Reuters 2018
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